Nevada County Picayune and Gurdon Times Newspaper Archive

Access Free Info In Finding Funds To Help Pay College Tuition

Every spring high schools across the country graduate another class of seniors, and students and their families begin looking for creative ways to finance a college education. Another annual event is a rise in the cost of tuition and room and board.

According to the College Board, students in the South enrolled at a four-year public institution paid an average of $2,675 for tuition and fees in the 1998-1999 school year. Students at four-year private institutions paid an average of $12,636 for their tuition and fees. Add another $650 for books and $4,000 to $5,000 for room and board and it's easy to see why parents with seniors are panicked.

Some families fall prey to scholarship and financial aid scams, says Lynn Russell, resource management specialist, Cooperative Extension Service, University of Arkansas. Unscrupulous companies that guarantee or promise scholarships, grants or fantastic financial aid packages are becoming more numerous and take advantage of students and parents who need money to pay for college. Many use high pressure sales pitches at seminars requiring consumers to pay immediately or risk losing out on the so called opportunity' to get a scholarship.

Be suspicious of some one who 1) guarantees a scholarship or your money back; 2) tells you that you can't get scholarship and grant information anywhere else; 3) asks for your credit card or checking account number to hold a scholarship; or 4) says that your child is a "finalist" in a scholarship contest that you've never entered. The Federal Trade Commission says that these are tell-tale lines used by companies who will take your money and provide little or nothing in return.

There are legitimate services that charge a fee to compare a student's profile with a database of scholarship opportunities and provide a list of awards for which a student may qualify, but why pay when you can get this information for free?

The Arkansas Student Loan Authority is a good place to start. They do free scholarship searches for students. Contact them at 1-800-443-6030 or visit their web site at http://www.asla.state.ar.us

If you have a computer and Internet access, type in the address of the College Board

http://www.collegeboard.org

Scroll down and click on directory of services.' Then click on scholarship search.' Follow the directions for a free search.

As a community service, graduate students in the Sam M. Walton College of Business Administration at the University of Arkansas, developed and maintain a web site that includes information on scholarship scams and fraud. Its web site address is

http://www.uark.edu/depts/acctinfo/course/fraud/updates.html

The students' information is well-researched and provides tips for avoiding scams. They also have identified many good references and resources for finding money for college.

You'll need every dime you can find to finance a college education, so don't spend money on free information!

Learn more about personal finances, at the Clark County Extension office.